Hong Kong signs MoU with Saudi Arabia on investment promotion (with photos/video)

The Hong Kong government has issued a press statement to announce the signing of a memorandum of understanding (MoU) between Invest Hong Kong (InvestHK) and the Ministry of Investment of Saudi Arabia. The aim of the MoU is to foster collaboration between the two government agencies to promote mutual investments in an effort to „bolster bilateral investment flows“ and confidence of investors in both financial market. Under the MoU, the two agencies seek to engage in reciprocal visits, information exchange, and mutual meetings and conferences to exchange relevant competencies and information related to business and investment climate.
According to the press statement, the government has also initiated official negotiations with Saudi Arabia for an Investment Promotion & Protection Agreement (IPPA) alongside the MoU. The primary objective of the IPPA is to safeguard, bolster, and facilitate cross-border investments with the goal to improve economic ties and growth potential in either of the jurisdictions.